Business Tax
Tax Misinformation Poses Real Risk
With tax season upon us, misinformation about tax strategies becomes widespread, often circulating through social media, casual conversations, and well-meaning but inaccurate advice from friends or colleagues. In fact, the IRS recently issued a consumer alert warning of increased misinformation on social media, such as promises of inflated refunds or non-existent tax loopholes. Relying on […]
Pop-Up BOI Mills Raise Concerns About Data Security
AAFCPAs would like to make clients aware of pop-up Business Owner Information (BOI) mills promising to assist with compliance filings. These filings aim to boost transparency by identifying individuals who own or control a business. The injunction against the Corporate Transparency Act remains in effect, and reporting companies are not required to file beneficial ownership […]
Updates: Beneficial Ownership Information (BOI) Reporting Requirements
The Corporate Transparency Act (CTA) introduced significant changes to reporting requirements for millions of small businesses, with the aim of combating money laundering and enhancing transparency. However, ongoing legal challenges have created uncertainty regarding compliance deadlines and enforcement. AAFCPAs is following developments closely and will share updates as appropriate. The following aims to provide the […]
R&D Expenditures for Early Stage and Life Science Start-ups
Could your startup benefit from research and development (R&D) tax credits? Have you explored whether or not you qualify? Are you prepared to navigate tax strategies that could ease financial pressures on innovation? For early-stage and life science startups, R&D drives progress and lays the foundation for growth. However, recent changes to tax law—specifically Section […]
Richard Weiner Invited to Speak at AM&AA Winter Conference
AAFCPAs’ Richard Weiner, CPA, MST, CM&AA, Tax Partner and a leader of AAFCPAs’ Business Transaction Advisory practice has been invited to speak at the 2025 AM&AA (Alliance of Merger & Acquisition Advisors) Winter Conference being held January 21-22, 2025, in Scottsdale, Arizona. This annual event brings together top executives from investment banks, private equity firms, […]
Corporate Transparency Act Injunction Reinstated by Fifth Circuit
On December 23, 2024, a panel of judges in the Fifth U.S. Circuit Court of Appeals stayed the nationwide preliminary injunction concerning the Corporate Transparency Act (CTA). Just three days later, on December 26th, another panel of judges reinstated the injunction, creating renewed uncertainty for reporting companies. On December 31st, the U.S. Department of Justice […]
Corporate Transparency Act Deadline Reinstated
The U.S. Court of Appeals for the Fifth Circuit has reinstated the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). While the original January 1, 2025, deadline was temporarily delayed by a preliminary injunction, the Financial Crimes Enforcement Network (FinCEN) extended the compliance deadline to January 13, 2025. AAFCPAs advises that […]
How Life Sciences May Be Affected by New Administration Tax Policies
In this article: For clients in the life sciences, tax policies often hinge on a shifting political landscape. This means, each new administration may signal changes that could reshape strategies in the coming year and beyond. Understanding emerging policies will be key in 2025 for areas like M&A timing, R&D cost management, and structuring for […]
Federal Court Temporarily Halts BOI Reporting Requirements
A federal district court in Texas has issued a nationwide preliminary injunction halting enforcement of the Corporate Transparency Act (CTA) and its beneficial ownership information (BOI) reporting requirements. The ruling, issued on December 3, 2024, found that the CTA likely exceeds Congress’ constitutional authority and temporarily suspends the January 1, 2025, reporting deadline for businesses. […]